@ACGlobalEcon@ArturoHerrera_G@RepCuellar@HSBC Mexico faces 3-4 of pressing economic challenges, says H.E. @ArturoHerrera_G. Most obvious is Mexico's growth underperformance relative to its regional peers. Since 1982 Mexico's annual GDP growth has hovered around 2%, while per capita GDP growth averaged around 0.8% #ACMexico.
@ACGlobalEcon@ArturoHerrera_G@RepCuellar@HSBC The disparities are especially salient in the range of human development index scores between states - with some earning scores equivalent to Switzerland or the UK, while others are more similar to Eritrea or Burundi, comments @ArturoHerrera_G#ACMexico.
@ACGlobalEcon@ArturoHerrera_G@RepCuellar@HSBC Among other challenges that need to be addressed quickly is the expansion of fiscal revenue streams and the collection of taxes - Mexico only collects 13% of GDP in taxes, far below the Latin American mean, explains @ArturoHerrera_G#ACMexico.
@ACGlobalEcon@ArturoHerrera_G@RepCuellar@HSBC Deepening global trade tensions were at the top of the agenda for attendees at recent G-20 meetings, explains H.E. @ArturoHerrera_G. More specifically, the manner in which these global trade tensions are taking shape is multi-polar, multi-actor and far more difficult to navigate
@ACGlobalEcon@ArturoHerrera_G@RepCuellar@HSBC "When someone sees Russia as a friend and Mexico as an enemy, we know that the world has been turned upside down. Mexico is a very important ally." Having strong and trusted neighbors to our North and South is within our own best interests, explains @RepCuellar#ACMexico.
@ACGlobalEcon@ArturoHerrera_G@RepCuellar@HSBC@EliseLabott "If we (the US) don't pay attention and do more...a vacuum will be filled... The last thing we want is our neighbors to the South to have all these Chinese investments." We have to work with Mexico and our other partners in Latin America, warns @RepCuellar#ACMexico.
@ACGlobalEcon@ArturoHerrera_G@RepCuellar@HSBC@EliseLabott "Our vision is to have three strong, prosperous, secure countries, and that's the way we ought to look at this... And I have to say the Mexicanos on this (USMCA) negotiation between the US and Mexico have just done a tremendous job." remarks @RepCuellar #ACMexico.
@ACGlobalEcon@ArturoHerrera_G@RepCuellar@HSBC@EliseLabott For Mexico, as well as scores of other nations, the danger of the current global economic environment is the extent to which everyone is aware of an impending recession, but are showing very little appetite for cooperation to address it, says H.E. @ArturoHerrera_G#ACMexico.
"Our intention [with this new report] is to provide some ideas on how to sustain reactivation of Central America in a #COVID19 world," said Former Costa Rican President and @ACLatAm advisory council member @Laura_Ch. #ACCentralAmerica
Economic slowdown, informality, low coverage/quality of education, high poverty, high levels of violence, migration flows, dysfunctional states and disenchantment with democracy have created a "volatile combination of challenges." -Fmr Costa Rican Pres @Laura_Ch#ACCentralAmerica
“Venezuela's democratic leaders continue to work against political persecution to restore democracy in Venezuela.” @AtlanticCouncil President and CEO @FredKempe opens today's conversation with @jguaido, @JulioBorges, and policymakers from the US, Europe, and beyond. #LACatUNGA
“This is a critical moment for Venezuela. We are experiencing a serious emergency because of the pandemic, aggravated by persecution and crimes against humanity committed by the #Maduro regime,” said Venezuelan Interim President @jguaido. #LACatUNGA
"During these challenging times, the role of institutions like @the_IDB and of leaders like @MorenoBID committed to the hemisphere's prosperity are essential." - @ACLatAm founder @adriennearsht opens today's conversation with President Luis Alberto Moreno #ACFrontPage
"What you find in Latin America is the number of #COVID19 cases are still growing,” said @the_IDB President @MorenoBID. "Equally, we have found a combination of pre-existing economic and political conditions." #ACFrontPage
"When we look at this region, there is so much promise and so much potential. What we all share is a democratic neighborhood," said @Southcom Commander Admiral Craig Faller. "All that is under assault." #ACVenezuela
“We made a massive effort, which shows our full commitment to a consensual deal,” said Argentine Minister of @Economia_Ar@Martin_M_Guzman on recent debt negotiations. "Initially, there was a positive reception to the offer we made." @ACGlobalEcon@ARGinUSA#ACArgentina
“There were a number of aspects within the negotiations, including economic and legal aspects,” said @Martin_M_Guzman. "Economically, there has been a massive effort on Argentina's side. We don't want to promise something we can't fulfill." @ACGlobalEcon@ARGinUSA#ACArgentina
“What led us to this debt negotiation is the lack of a comprehensive macroeconomic program that will put in place reforms that will promote sustainable, permanent, and consistent growth,” said @martinredrado, former president of @BancoCentral_AR. #ACArgentina
In negotiating the debt restructure before establishing a macroeconomic program, the Argentine government "put the cart before the horse," leading to a debt sustainability analysis that shifted due to #COVID19. -@martinredrado, former president of @BancoCentral_AR#ACArgentina